: Sarepta gets FDA approval for rare genetic disorder treatment

Sarepta Therapeutics Inc. SRPT said Thursday that the Food and Drug Administration approved its Elevidys gene therapy to treat the rare genetic disorder Duchenne muscular dystrophy, or DMD. Sarepta shares rose 2% in recent activity, following a brief halt, while the S&P 500 index SPX was up 0.2%. Back in May, the company halted its shares ahead of an FDA advisory panel, which voted in favor of accelerated approval, causing the stock to surge 30% when unhalted. The approval is contingent upon confirmatory results from a clinical trial, which the company expects out in the fourth quarter.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.